Zacks: Brokerages Anticipate Exagen Inc. (NASDAQ:XGN) to Post -$0.59 Earnings Per Share

Wall Street analysts expect Exagen Inc. (NASDAQ:XGN – Get Rating) to post earnings of ($0.59) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Exagen’s earnings. The highest EPS estimate is ($0.55) and the lowest is ($0.63). Exagen posted earnings per share of ($0.48) in the same quarter last year, which would indicate a negative year-over-year growth rate of 22.9%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Exagen will report full year earnings of ($1.97) per share for the current year, with EPS estimates ranging from ($2.07) to ($1.90). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.79) per share, with EPS estimates ranging from ($1.98) to ($1.60). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover Exagen.

Exagen (NASDAQ:XGN – Get Rating) last announced its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.07. The business had revenue of $12.69 million during the quarter, compared to analysts’ expectations of $11.55 million. Exagen had a negative return on equity of 28.75% and a negative net margin of 55.59%. During the same quarter in the previous year, the business earned ($0.27) earnings per share.

Several equities analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Exagen in a research report on Friday, January 14th. Zacks Investment Research raised Exagen from a “sell” rating to a “hold” rating in a research note on Friday. KeyCorp decreased their price objective on Exagen from $30.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, March 25th. Finally, BTIG Research reduced their price target on Exagen from $20.00 to $15.00 in a report on Wednesday, March 23rd.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XGN. Citigroup Inc. boosted its holdings in Exagen by 150.5% in the 4th quarter. Citigroup Inc. now owns 2,713 shares of the company’s stock worth $32,000 after buying an additional 1,630 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Exagen in the fourth quarter valued at approximately $35,000. Bank of America Corp DE raised its position in Exagen by 27.7% in the fourth quarter. Bank of America Corp DE now owns 16,413 shares of the company’s stock valued at $191,000 after purchasing an additional 3,560 shares during the period. First Bank & Trust raised its position in Exagen by 46.3% in the fourth quarter. First Bank & Trust now owns 12,597 shares of the company’s stock valued at $147,000 after purchasing an additional 3,985 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Exagen by 15.4% in the third quarter. Bank of New York Mellon Corp now owns 32,004 shares of the company’s stock valued at $435,000 after purchasing an additional 4,265 shares during the period. Institutional investors and hedge funds own 69.08% of the company’s stock.

Shares of XGN traded down $0.21 during trading hours on Wednesday, hitting $6.10. The stock had a trading volume of 141 shares, compared to its average volume of 34,160. The company has a debt-to-equity ratio of 0.32, a current ratio of 12.10 and a quick ratio of 12.10. Exagen has a 12 month low of $6.06 and a 12 month high of $18.00. The company has a market cap of $99.01 million, a price-to-earnings ratio of -3.71 and a beta of 0.73. The firm has a fifty day moving average price of $7.86.

About Exagen (Get Rating)

Exagen Inc develops and commercializes various testing products based on its cell-bound complement activation products technology under the AVISE brand in the United States. It enables rheumatologists to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).

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